Five Marketing Mistakes Every Manager
     Makes (and how to avoid making them)


                                                     Kevin Epstein
                                                     VP Marketing, Scalent Systems
                                                     Author, Marketing Made Easy

                                                     kevin@stupidmarketing.com


                                                        Please, interrupt me!


Copyright © 2004 VMware, Inc. All rights reserved.
About Me / “Hello World”
• Marketer, Author, Entrepreneur, Consultant
  – Built lawn-care, T-shirt, appliance sales business before
    finishing college and coming out to CA
  – Buy my book, or write your own (but read the contract first)

• Tech Geek
  – Love gadgets. Undergrad in Nuclear Physics.

• Bad at timing stock sales
  – Don’t ask me when to buy or sell. Really.

• Good at Marketing?
  – Made lots of mistakes, learned from them…
  – You be the judge!
Shameless Self-Promotional Slide…

• Buy my book
 – Tonight, personalized
 – http://buynow.stupidmarketing.com
 – Chris Shipley (DEMO) recommends it…

• Take my Stanford course
 – Stanford Continuing Studies Dept.
 – 5 weeks, 1 night per week
 – Meet fun people, work in teams, network
 – http://continuingstudies.stanford.edu/cours
   e/department.asp#Business
Scalent Systems

• Enterprise Software Startup
 – Yes, masochistic.

• Dead, Bare Metal to Live, Connected
  Servers… in Five Minutes or Less!
 – Make any server-class machine run any
   software stack with any network IP and any
   storage connection, in boot-time

• You hadn’t heard of VMware, either,
  5 years ago
 – Skate to where the puck is going to be...

   …but let’s talk about Marketing!
Five Marketing Mistakes Every Manager Makes (and
                                 how to avoid ‘em)
• Betting On the Big Event
  – Gambling Instead Of Planning

• Depending on Others
  – Outsourcing the Wrong Things

• Marketing Nonexistent Product
  – Non-strategic Hype

• Failing to Measure
  – If you didn’t measure it, it didn’t exist

• Adding Complexity
  – Confused Prospects = Lost Sales
Mistake 1: Betting on the Big Event
                 Gambling instead of Planning

• Do the Math
  – Event profit = [# of potential leads] x
    [likelihood of making sale] x [size of
    sale] – [total costs of attending event]

• Equip Yourself
  – Be the customer – what do they
    expect?

• Shop Around
  – Are there better-ROI lead
    generators?
Mistake 2: Depending on Others
              Outsourcing the Wrong Things
• Check References
 – Reach the unhappy customers, the
   people they didn’t list

• Communicate & Align
  Expectations
 – Write ‘em down, in detail
 – When project is done, what are the
   results?
 – What methods are OK to use? What
   aren’t?

• Have a Backup Plan
 – What happens when the consultant
   doesn’t?
Mistake 3: Marketing Nonexistent Product
                      Non-Strategic Hype
• Understand Customers’
  Expectations, Value
 – What do they expect and value
   of your business?

• Sell What You Have
 – Spend time on your benefits;
   Listen for futures

• Use Hype Strategically
 – The “vision thing” has a
   purpose: stalling others or
   selling faster now
Mistake 4: Failing to Measure
   If you didn’t measure it, it doesn’t exist
• Understand what you want to
  measure (link to sales)
 – Keep metrics to the minimum needed
   to link marketing to sales

• Build Measurement In
 – Start at the beginning of your
   marketing programs. Phone
   extension, special email address, pre-
   printed response cards, etc

• Change one variable at a time
  (no more)
 – Change design or location or
   vehicle… (not and)
Mistake 5: Adding Complexity
             Confused Prospects = Lost Sales


• Say it Simply
  – Concise, explicit descriptions. Small words.

• Make it Simple to Do
  – They’re the ones paying you. Let them.

• Don’t ask too much of your
  customers
  – Balance value of marketing info against
    likelihood & value of sale
Summary

• Betting On the Big Event
  – Gambling Instead Of Planning

• Depending on Others
  – Outsourcing the Wrong Things

• Marketing Nonexistent Product
  – Non-strategic Hype

• Failing to Measure
  – If you didn’t measure it, it didn’t exist

• Adding Complexity
  – Confused Prospects = Lost Sales
Thanks / Q&A


If you’re interested in more detail, please try my
  book…
    Marketing Made Easy
    Entrepreneur Magazine Press / McGraw Hill
    Amazon, Entrepreneur.com, or Barnes & Noble
    (Personalized copies:
     http://buynow.stupidmarketing.com)

…or sample my Blog, at
 http://blog.stupidmarketing.com

             Thanks for your time!

The 5 Big Marketing Mistakes

  • 1.
    Five Marketing MistakesEvery Manager Makes (and how to avoid making them) Kevin Epstein VP Marketing, Scalent Systems Author, Marketing Made Easy kevin@stupidmarketing.com Please, interrupt me! Copyright © 2004 VMware, Inc. All rights reserved.
  • 2.
    About Me /“Hello World” • Marketer, Author, Entrepreneur, Consultant – Built lawn-care, T-shirt, appliance sales business before finishing college and coming out to CA – Buy my book, or write your own (but read the contract first) • Tech Geek – Love gadgets. Undergrad in Nuclear Physics. • Bad at timing stock sales – Don’t ask me when to buy or sell. Really. • Good at Marketing? – Made lots of mistakes, learned from them… – You be the judge!
  • 3.
    Shameless Self-Promotional Slide… •Buy my book – Tonight, personalized – http://buynow.stupidmarketing.com – Chris Shipley (DEMO) recommends it… • Take my Stanford course – Stanford Continuing Studies Dept. – 5 weeks, 1 night per week – Meet fun people, work in teams, network – http://continuingstudies.stanford.edu/cours e/department.asp#Business
  • 4.
    Scalent Systems • EnterpriseSoftware Startup – Yes, masochistic. • Dead, Bare Metal to Live, Connected Servers… in Five Minutes or Less! – Make any server-class machine run any software stack with any network IP and any storage connection, in boot-time • You hadn’t heard of VMware, either, 5 years ago – Skate to where the puck is going to be... …but let’s talk about Marketing!
  • 5.
    Five Marketing MistakesEvery Manager Makes (and how to avoid ‘em) • Betting On the Big Event – Gambling Instead Of Planning • Depending on Others – Outsourcing the Wrong Things • Marketing Nonexistent Product – Non-strategic Hype • Failing to Measure – If you didn’t measure it, it didn’t exist • Adding Complexity – Confused Prospects = Lost Sales
  • 6.
    Mistake 1: Bettingon the Big Event Gambling instead of Planning • Do the Math – Event profit = [# of potential leads] x [likelihood of making sale] x [size of sale] – [total costs of attending event] • Equip Yourself – Be the customer – what do they expect? • Shop Around – Are there better-ROI lead generators?
  • 7.
    Mistake 2: Dependingon Others Outsourcing the Wrong Things • Check References – Reach the unhappy customers, the people they didn’t list • Communicate & Align Expectations – Write ‘em down, in detail – When project is done, what are the results? – What methods are OK to use? What aren’t? • Have a Backup Plan – What happens when the consultant doesn’t?
  • 8.
    Mistake 3: MarketingNonexistent Product Non-Strategic Hype • Understand Customers’ Expectations, Value – What do they expect and value of your business? • Sell What You Have – Spend time on your benefits; Listen for futures • Use Hype Strategically – The “vision thing” has a purpose: stalling others or selling faster now
  • 9.
    Mistake 4: Failingto Measure If you didn’t measure it, it doesn’t exist • Understand what you want to measure (link to sales) – Keep metrics to the minimum needed to link marketing to sales • Build Measurement In – Start at the beginning of your marketing programs. Phone extension, special email address, pre- printed response cards, etc • Change one variable at a time (no more) – Change design or location or vehicle… (not and)
  • 10.
    Mistake 5: AddingComplexity Confused Prospects = Lost Sales • Say it Simply – Concise, explicit descriptions. Small words. • Make it Simple to Do – They’re the ones paying you. Let them. • Don’t ask too much of your customers – Balance value of marketing info against likelihood & value of sale
  • 11.
    Summary • Betting Onthe Big Event – Gambling Instead Of Planning • Depending on Others – Outsourcing the Wrong Things • Marketing Nonexistent Product – Non-strategic Hype • Failing to Measure – If you didn’t measure it, it didn’t exist • Adding Complexity – Confused Prospects = Lost Sales
  • 12.
    Thanks / Q&A Ifyou’re interested in more detail, please try my book… Marketing Made Easy Entrepreneur Magazine Press / McGraw Hill Amazon, Entrepreneur.com, or Barnes & Noble (Personalized copies: http://buynow.stupidmarketing.com) …or sample my Blog, at http://blog.stupidmarketing.com Thanks for your time!